BIMSTEC meaning in Business ?

Answer: What is Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation mean?

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation of seven South Asian and Southeast Asian nations, housing 1.73 billion people and having a combined gross domestic product of $3.8 trillion (2021). The BIMSTEC member states – Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand – are among the countries dependent on the Bay of Bengal.

Fourteen priority sectors of cooperation have been identified and several BIMSTEC centres have been established to focus on those sectors. A BIMSTEC free trade agreement is under negotiation (c. 2018), also referred to as the mini SAARC.

Leadership is rotated in alphabetical order of country names. The permanent secretariat is in Dhaka, Bangladesh.

reference

Full Form	Category
Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation	Business
Bay of Bengal Initiative for Multi-Sectorial Technical & Economic Cooperation	Business
Bangladesh India Manyamar Srilanka Thailand E C	General
Bengal Initiative for Multi Sectoral Technical and Economic Cooperation	Governmental
Bay of Initiative for Multi Sectoral Technical Economic Cooperation	Governmental